209 W 3rd Avenue, Escondido, CA 92025
Commercial property
Sold September 2023
Listing Agent: Josh Browar (DRE #01824454) · Listing Office: The Browar Group · Contact: 858-414-4398 · Bought with: John Alan Russell · Datashare CLAW Default Office Don't Delete · MLS #230003308SD · Source: CRMLS
About this commercial property
We are pleased to offer The Grand @ City Center apartments a Value-Add deal located in the heart of Escondido. The property is situated on two adjacent parcels on the corner of S Maple Street and W 3rd Avenue with close proximity to downtown Escondido. The opportunity contains a very dynamic unit mix of a 3br/1ba SFR, 6-1br/1ba detached cottages (with private yards), one 2br/1ba apartment, five 1br/1ba apartments and five studio apartments. Other amenities include six single car garages (perfect for an ADU conversion) and laundry facilities. The property offers a very quaint courtyard style atmosphere as current ownership has implemented many recent capital improvements (see OM). There is also significant rental upside potential. *** There is new loan on the property with Chase Bank that has a current loan balance of $2,225,000. The loan has an interest rate of 3.37% and has interest only payments through 10/1/2024. Then it converts to a fixed rate (fully amortized) of 3.37% until 10/1/2026.
Listing description from the September 2023 sale, as reported to CRMLS.
Sale history